Related to Foreign Exchange Transfers

Are you importing a car, boat, wine or furniture? These transactions require you to transfer money overseas and it is important to maximise the value of these particular foreign currency transfers. MyCurrencyTransfer.com can assist in finding you the best exchange rates and lowest fees from our panel of FCA regulated foreign currency specialists.

Importing a car, wine, a boat or furniture from overseas require you to be aware of currency fluctuations that can result in either losing or saving thousands of pounds on your international money transfers. Foreign exchange products such as forward contracts, flexible forward contacts, limit orders and stop loss orders can really ensure you attain the best the value on your international money transfers.

Jim imports a car and needs to pay for it by sending money to the USA. Jim needs to import a car in two months time from the USA that costs $100,000.

Late Summer, he knew that £64,909 at a rate of 1.5406 would buy him his dream $100,000 car. Jim was happy with this rate but in the back of his mind thought the rate might improve. As he only needed to transfer the money overseas in two months time, Jim adopted a 'wait and see attitude' in the hope a positive currency fluctuation by Autumn. However, the rate did not move favourably and in fact went the other way, down to 1.4862.
As he could not wait any longer, Jim now had to unnecessarily pay £67,285 for the $100,000 car. This equates to a very unnecessary loss of £2,376 pounds in a very short space of time!

By taking out a 'forward contract' with his foreign currency specialist, Jim could have hedged his bets and locked in the exchange rate at 1.5406. A forward contract helps to fix the exchange rate for a purchase in the future. This rate is fixed regardless of any adverse movement in currency between when a rate is agreed (the deal date) and when the funds are eventually transferred (known as the 'settlement' date). Fixing the exchange rate only requires a small deposit (often 10 %) within a couple days of placing the order with your foreign currency specialist.

Our Verdict: Perhaps one of the most well known and established foreign exchange companies. Moneycorp have been in the industry for over 30 years, they started dealing in foreign exchange in 1979. Pride themselves on bank beating rates and lowest fees around. With over 600 employees and 11bn GBP traded in currencies last year, your money transfers are in safe hands. Offices in the UK (London), Spain and USA (Florida).

Our Verdict: A global leader in foreign exchange and a trusted international payments provider. Provide commercial exchange rates that are typically more competitive than the high street banks. No fees or commissions for larger transactions. HQ in London and operates in over 200 countries and territories (New York, Paris, Sydney, Toronto, Singapore, Hong Kong). More than 135 currencies available.

Our Verdict: World First is an award-winning foreign exchange specialist headquartered in the UK. Their ongoing commitment to giving clients the best exchange rate and the highest level of service has seen them become Service Business of the Year 2010 and more recently winners of the European Business Award for Customer Focus 2014. They are fully authorised and regulated by the FCA and also received the Queen's Award for Enterprise 2009. Offices in the UK (London), USA (East and West Coast), Hong Kong, Singapore and Australia.

Smart Currency Exchange

HMRC :

FCA :

Trust Accounts :

One Off Transfers
Regular Payments
Forward Contracts
Order to Call/Buy
Telephone Ordering

Our Verdict: A well established firm set up in 2004, servicing clients globally. Smart can save you money on foreign exchange. Interestingly, their big USP is that Smart are one of the only UK based FX brokers that doesn't pay traders commission. This allows Smart employees to deliver superior customer service. Whether sending money from London, New York, Sydney, Paris or elsewhere, Smart will save you money.

Our Verdict: UKForex has a market leading online foreign exchange platform. It is incredibly easy to send money abroad using UKForex, wherever you are. The USP is a 24 hour online platform and access to telephone dealers. In addition, they provide for telephone service that enables individuals and businesses to make and receive overseas foreign currency payments over the phone at highly competitive exchange rates.

NOTE: The prices displayed above are an 'exchange rate guide' and for indicative purposes only. It may not be the exact final dealing rate that you receive when making an international payment. Exchange rates constantly change throughout the day and can change at the time of booking a trade. They are based on an average margin currency specialists generally will take - added to a near live interbank rate for your specified trade size. Rates can only be guaranteed at the point where a purchase of foreign currency is conducted either online or by telephone. To access a final dealing rate (otherwise you will only be quoted an 'indicative rate') you will need to open a free account with a foreign currency specialist above.

Click quote/apply on the provider best suited to your foreign exchange requirements.